Blue Lake Rancheria Left Holding the Bag: Owed $7 Million by Bankrupt Developer

“According to Nancy Pasternack at the Appeal-Democrat: The new operator of a once-successful motocross track in Marysville, California, has abandoned the facility, leaving the city empty-handed for the second time in a year. Todd H. Nelson of Loomis, California, signed a contract for the track known as Riverfront Park five months ago. ”

“Nelson had planned to build a $109 million motocross complex in Placer County near Thunder Valley Casino. But the project failed to materialize in the wake of the recession, and Nelson’s holdings are currently in Chapter 7 — liquidation — bankruptcy. Among his creditors is Blue Lake Rancheria, a tribe-owned economic development corporation in Humboldt County, to which he owes nearly $7 million.”